Guinness Asset Management LTD Sells 72,199 Shares of Itron, Inc. (NASDAQ:ITRI)

Guinness Asset Management LTD cut its position in Itron, Inc. (NASDAQ:ITRI) by 27.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 193,085 shares of the scientific and technical instruments company’s stock after selling 72,199 shares during the quarter. Guinness Asset Management LTD owned 0.43% of Itron worth $20,966,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ITRI. Quarry LP lifted its holdings in shares of Itron by 53.0% during the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after purchasing an additional 122 shares during the period. Continuum Advisory LLC raised its position in Itron by 42.1% during the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 102 shares during the last quarter. Covestor Ltd lifted its holdings in Itron by 26.1% during the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after buying an additional 111 shares during the period. Farther Finance Advisors LLC grew its position in shares of Itron by 21.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock valued at $77,000 after buying an additional 129 shares during the last quarter. Finally, Contravisory Investment Management Inc. raised its position in shares of Itron by 154.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock worth $94,000 after acquiring an additional 525 shares during the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Janney Montgomery Scott began coverage on shares of Itron in a research report on Friday, September 27th. They set a “buy” rating and a $131.00 target price for the company. TD Cowen increased their price objective on shares of Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Robert W. Baird boosted their target price on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Guggenheim increased their price target on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Oppenheimer lifted their price objective on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $123.92.

Itron Trading Up 0.9 %

NASDAQ ITRI opened at $105.36 on Monday. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 52 week low of $69.23 and a 52 week high of $124.90. The business has a 50 day moving average price of $112.52 and a 200-day moving average price of $106.67. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 0.85 and a beta of 1.47.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same quarter in the previous year, the business posted $0.98 EPS. Itron’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts expect that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Itron Company Profile

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.